Profit or Lo$$… Coaching Your Agents to Peak Performance and

Bottom-Line ResultsPresented by

Rhonda HamiltonRhonda@RhondaHamilton.com

OBJECTIVES

• primary things to look for when recruiting• things that attract and keep good agents• programs that lead to increased

profitability

GETTING STARTED…

• The handout• Email addresses• Hitting the high

notes• Comfort Station• No recording

allowed• Phones

Please Stand if:

• Owner/Broker• Manager/Assistant

Manager• Mentor/Coach• Salesperson• Don’t have a clue

where you fit in

RECRUITING… what are you looking for?

• What are characteristics that you look for when recruiting?– New Agents &

Seasoned Agents

Looking For…

PRODUCERS!

• _____ % of agents do less than 4 transactions a year?

RECRUITING… what are you looking for?

• Turn to your partner(s) and list 3 top characteristics you are looking for…

Agent Characteristics• Motivated

– Heart for learning• Great work ethic

– Hard worker– Goal-oriented person– Committed to the journey

• Winning Attitude!– Solution-based service

mindset– Positive attitude– Team player

RECRUITING…Questions to think about!

• Take a look at the agents that left the company and the agents that joined the company.– Was your profit more

or less?

• Do you have a plan for recruiting?

Recruiting Strategy

• Discuss your best tip for recruiting with 1 or 2 people around you

Recruiting Tips

• Actively seek multi-cultural, multi-generational to meet more consumer’s needs

Recruiting Tips

• Increase your IQ of Agents’ Desirability Factors–Create programs and marketing that

address these factors• Demonstrate “care” for the agents you

have… they will recruit for you!• Market the benefits for the agent

–Think beyond “the split”

Recruiting Tips

• Time block for recruiting• Career Seminars• Prospect at Real Estate schools as

allowed• Obtain the names of people applying for a

Real Estate License• Career information on your websites• Speak at high schools/colleges

RECRUITING METHODS

Passive vs. Active

Passive Recruiting

• Drip mail/e-mail system where it is done for you through an outsource company

• Another member of your staff sends items for you

• Even though you set the system up—is this active or passive???

Active Recruiting

• Going by open houses of targeted agents on the weekend

• Sending handwritten notes• Phone calls• Inviting targeted agent to breakfast/lunch• Invite targeted agent or agent to be to

attend your sales meeting or training session

Notes to remember!

• ¾ of your recruiting should be ACTIVE..

• Rapport and Trust x # of contacts = Greatest percentage of success

• Change creates recruiting openness

Recruiting is:

• A promise for an environment of SUCCESS..

• Management then delivers by furnishing– Systems and knowledge through training– Supervision, Motivation and Support for their

agents

TURN TO PARTNERS

AND LIST 5 TOPREASONS WHY

AGENTSLEAVE

Why Agents Leave

• Ego• Lack of recognition• Lack of a “go to”• Loners• Think broker is unfair• Office disputes• Negative office

attitude

• Poor quality of new recruits

• Want a winning team• Lack of office spirit• No personal growth

potential• No perceived benefit

from company

Attracting and Keeping…

New Agentsand

Seasoned agents

Attracting and Keeping…New & Seasoned

• Oftentimes want the same things…– Strong training and

coaching programs – A “Go-To” Person– Appreciation and

Recognition– Culture of Character

Coaching & Training

MotivationalSkills Based How-TosOperationalRisk ManagementTechnology and Trends

TRAINING

• Addressing needs and issues of different GENERATIONS– Communication

preferences– Work styles– Appropriate dress

Generation Gap

TRAINING…

• Addressing needs and issues of different PERSONALITIES– Communication

preferences– Work styles

TRAINING…

• Addressing needs and issues of different CULTURES– Communication

preferences– Work styles

COACHING…Group and Individual Coaching

Group COACHING…

• Skills-based training sessions• Company-wide goals

awareness• Sales meetings with

talking points• Team-building activities• E-mail blasts

– Keeping everyone informed– Good positive news

The “Go-To” Person…

• Coach, manager…

• Someone who is available to answer questions and advise

Culture of Character

• Brokerage posture– Demonstrates they

do everything just as they ask their agents to do• Set goals that align

with agents’ goals– Goals with timelines

posted for viewing• Positive attitude

The Positive Cycle

Culture of Character• Brokerage posture

– Attitude of Gratitude– Take responsibility

• Demonstrate value of integrity and ethics

• Up to Date– Encourages education– Educates in-office

• Provide training and coaching• Set and keep specific

expectations– policies and procedures clearly

defined and valued

Culture of Character• Policies and procedures

– Reporting and resolving conflict– Handling agency relationships

including intermediary– Distribution of leads & referrals– Client communication… returning

phone calls, emails and internet lead generation

– Daily involvement with licensees’ actions

Appreciation and Recognition• Biggest mistake

made… lack of appreciation shown

Retention of New Agents

• Discuss with your group ideas to retain new agents

New Agent Retention

• Training in general about company

• Expectation Letter• Accountability• Goal Setting• Go to person for all• Questions• 30 day plan of action• Specialized training

for listings

• Specialized training• For Buyer

Representation• Telephone techniques• Training• Contract & addenda

training• Continued goal

setting and coaching

Retention of Experienced Agents • Brain Borrowing!

• In your group discuss methods of retention for Experienced Agents

Retention of Experienced Agents

• Continued training and educational opportunities– Webinars– Videos– Seminars paid by company

Retention of Experienced AgentsContinued recognition, i.e.• Payday Candy bars with commission check• Gift on their anniversary date with company• Personal call/e-mail or card on birthday • Call/e-mail/text/note of congratulations for

closing sales or other accomplishments• Personal parking spaces for quarterly top agents• Traveling trophies

– Listings– Pendings– Closings

ABC’sOf Retention

• A-always start your agents firmly and clearly on a path to disciplined competence

• B-be constantly in touch and guide the agents through their development cycles

• C-consistently appreciate and reward good work, accepting nothing less

Increasing Profit…A Win/Win For Everyone!

Group Discussion

Thinking Outside the Box!

• Top 3-4 items to make your office profitable

Keys To Success…

• Training• Accountability• Coaching• Systems

Success Plans for each agent!

Success Plans for each agent!

You must keep looking ahead!

You must not lose your target!

If you aim at nothing, it is

for sure you’re going

to hit the target!

Harvard Study…• Students, 1979 MBA

program• 3% had written goals

& plans• 13% had unwritten

goals• 84% had no specific

goals at all

Harvard Study… 10 Years Later

• The 13% who had goals – earning twice as much

as the 84% who had no goals.

• The 3% with clear, written goals– Earning ten times as

much as the other 97% put together!

Success Plans for each agent!

• Individual coaching– In-house or contract– Helps formulate written

goals and action plans• Personal and professional

– Gives them faith in self– Motivates – Helps work through

challenges • time management and

organizational issues, etc)

Success Plans for each agent!

• Retirement and savings are included in the plan

• Exit Plan established for those nearing retirement– Partnership for last year to

transition business

Success Plans for each agent!• Guidelines• Skills-based training• Accountability program

– Performance reviews • individual one-on-one

performance management meetings with coach

– Systems in place– Lead Generation training

• New, Repeat, & Referral– Mastermind Group and/or

partnering

SYSTEMS • Train agents to use Outlook (or similar) to manage their real estate leads

• Train agents to understand what an “A” buyer/seller is and work those leads first

• Train agents to send Just Listed, Just Sold, cards or letters or hand deliver around each listings and to the move up market to expand their business

Systems• Company to have systems in place for

leads management distribution• Social Media Marketing• Checklists for reviewing final file• Phone opportunity time• Relocation • Recognition of agents• Accountability of agents

Minimum standards

• Set minimum standard levels for your office• Example would be “2” per agent• Place signs on desk, door, etc. that say

“I GOT MY TWO” for that agent• Make goal setting fun for all• Acknowledge all agents who do more than

minimum by personal thank you, e-mail etc.

Increasing per PersonProductivity

• Don’t assume every agent is doing the best he/she can.

• Good management does make a difference!

Team Building for Profitability

• Broker must set example

• Large group projects and activities– (need to be the agents

ideas)• Power groups or

President’s Club

• Appreciation day for vendors, agents who have sold your listings, etc.

• Pot luck dinners for agents and family

• Good sport of the month award

Improve Profitability byUpgrade, Upscale and Improving

Quality Service

Upgrading

• Wash windows• Clean carpet• Make office Non Smoking• Management set image for all• Limit customers to only “customer areas”• Have a painting party and paint needed

areas• Enforce dress code

Upscale

• Obtain “new home” listings• Be on the cutting edge of technology• Raise the floor on minimum standards• Advertise your upscale properties• Understand needs of upscale

buyers/sellers• Make your website appealing to upscale

buyers/sellers

Improving Quality Service• Exceed expectations• Read “brag” letters at sales meetings• Respond immediately to complaints• Be proactive in calling clients to thank

them for their business, sending letters• Ask clients to fill out a “Report Card”• Ask happy clients for referrals, send thank

you notes to family members of your agents, train agents on providing quality service

Profitability• Keep company stats of listings taken• Percent of those that sell both by your

company’s agents and co-op agents• Know your competitors, how they rank in

your MLS, their websites, etc.• Stats on solds (co-op listings)• Lead Management system for incubating

leads

Profitability• Use Performance

Management Stats from individual coaching– To keep licensees on track– For recognition, bonuses,

additional referrals, etc.– For checking and reporting

on company goals

BRAINSTORM

• One tool or practice to manage risk

Risk Management

• Policy and Procedures Manual in place– With Agency spelled out

clearly• All agents sign a form

saying they have read and understand P&P manual

Risk Managementcontinued

• Review all listings and contracts • Keep listings in locked file• Compile listing and buyer packets for

agents• Send e-mail to all agents of any changes

in contracts, addenda, etc. and any current lawsuits which they need to be aware of

For greater success…

• Training• Accountability• Coaching• Systems

Thanks for

participating!…

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